Hyperloop Design to Be Revealed Aug. 12

SpaceX and Tesla Motors (TSLA[1]) CEO Elon Musk has revealed that the design of his high-speed transportation system, the “Hyperloop,” will be available to the public on Aug. 12.”

According to SlashGear[2], this system consists of tubes that connect different parts of the country at a speed of 4000 mph using the same technology that bullet trains use.

If successful, this new form of transportation would be capable of transporting people in the U.S. from coast to coast in 45 minutes.

The Hyperloop tubes possibly could transport people much faster than planes, but that wouldn’t be its only perk. The circuit reportedly would cost only about a quarter of what a similar-length highway would, could transport up to 200,000 people an hour, and would cost a traveler $100 to go between New York and Los Angeles.